Cement News tagged under: corporate
Buzzi Unicem turnover up in 200513 February 2006, Published under Cement NewsItalian cement and concrete manufacturer Buzzi Unicem SpA ended 2005 with a consolidated turnover of 2.95 bln euro, up 6.5 per cent year-on-year, the company said in a statement on February 10, 2006. Sales of cement hiked by 1.0 per cent to 32.2Mt, while concrete sales reached 2.95 million cu m, rising by 2.7 per cent. The group’s net financial debt dropped by 221 mln euro to 1.054 bln euro. |
Hanson takeover speculation?13 February 2006, Published under Cement NewsHanson could be the takeover target the City forgot. Shares of the construction materials maker have slowly but surely climbed to a five-year high of 686p, up a further 3p yesterday, on persistent buying. The 150p or so rise over the past few months has gone almost unnoticed by professional punters who have been too busy overdosing on a constant deluge of bid rumours in the financial and transport sectors. Hanson now stands alone in the global building materials industry and has the ability... |
History repeats say Indian financials13 February 2006, Published under Cement NewsHow seriously can one take Indian corporate houses when they talk of corporate governance? In 1999, Gujarat Ambuja Cement Ltd (GACL), a well-run, bluechip company blotted its copy book with a two-stage acquisition of ACC shares from the Tata group. The deal was designed as a strategic investment to avoid paying retail investors the same price as the Tatas. Despite investor outrage, GACL and the Tatas were allowed to violate the spirit of the Takeover Regulations on technical grounds. At th... |
No merger plans as of now: BK Birla13 February 2006, Published under Cement NewsThe Chairman of Century Textiles and Industries, B.K. Birla, says the group is not looking at merging any BK Birla and AV Birla business as of now. He says the group may look at the possibility of a merger four to five years down the line. It is looking at setting up a cement plant in West Bengal. Further, he says the group is expecting a favourable outcome in the Birla-Lodha case. |
Jordan Cement Company 2005 net profit up 28.7 per cent10 February 2006, Published under Cement NewsJordan Cement Company , Jordan’s only cement firm, reported net profits of JOD67m ($94.5m) in 2005 on Thursday, up 28.7 per cent from the previous year. The firm said in a statement its 2005 sales rose 22 per cent to reach JOD204m, which it attributed to a buoyant construction sector where the kingdom saw a housing and real estate boom. Jordan Cement sought to raise total output under a three- year plan to 5.5Mt from its two main factories in Fuhais, near the capital Amman and the s... |
UAE Umm Al-Qaiwain cement industries net profit10 February 2006, Published under Cement NewsThe net profit of UAE cement manufacturer Umm al-Qaiwain Cement Industries Company jumped to AED172.5m (US$47m) in 2005 from AED85.9m (US$23.4m) in 2004, the company said. Earnings per share (EPS) rose to AED0.702 (US$0.19) from AED0.35 (US$0.095) and net operating profit increased to AED174.8m (US$47.6m) from 85.9 mln dirhams ($23.4 mln/19.5 mln euro). Assets totaled AED684.8m (US$186.4m), compared to AED397m (US$108.1m), while shareholders’ equity grew to AED625m (US$170.2m) from A... |
Boral: profits down sales up09 February 2006, Published under Cement NewsBoral of Australia reported a nine per cent decline in six-month net profit, but said it remains focused on expanding its US operations as earnings from its key domestic markets continue to struggle in the face of subdued housing activity. The construction-materials company said net profit for the six months ended Dec. 31 fell to A$172.4 million (US$127.5 million) from A$189.1 million, despite an eight per cent increase in sales, to A$2.34 billion. The company generates over half its sales f... |
Lafarge N America to review offer09 February 2006, Published under Cement NewsLafarge North America Inc.’s board has appointed a special committee to review the proposed tender offer by majority shareholder Lafarge SA. The committee members are unaffiliated with Lafarge SA, which has offered US$75 a share for the 46.8 per cent of Lafarge North America it doesn’t already own. In a press release Wednesday, the construction-materials supplier said the committee will review and consider the proposal and will make a recommendation to stockholders. The offer represents a 17... |
Lafarge facing US lawsuit08 February 2006, Published under Cement NewsFrench building materials group Lafarge SA is facing a class action lawsuit in the US from minority shareholders of its Lafarge North America business alleging the price the group is offering to buy the remaining shares in the unit is too low. Lafarge announced on Feb 6 a US$75 offer for the 46.8 per cent of the North American business it does not already own. This was a 16.7 per cent premium on the share price. ’The US$75 price per share does not adequately value the company in light of ... |
Ukrsotsbank opens UAH 10m credit line to Podilskyi Tsement08 February 2006, Published under Cement NewsUkrsotsbank ranking among top ten Ukrainian banks has opened UAH 10m credit line to the Podilskyi Tsement cement company (Kamianets-Podilskyi, Khmelnytskyi region), which is one of the three largest producers of cement in Ukraine, according to a statement, the credit was provided for the one-year term. Podilskyi Tsement plans to direct the credit funds to the replenishment of its circulation assets and attracting the main funds. As Ukrainian News earlier reported, Podilskyi Tsement made a ... |